SOCIAL COHESION

THE WAY TO GET SA BACK ON TRACK

Watch: The Banking Association members willing to provide expertise and resources to SOE

Source: eNCA DStv403

Time aired: 28 JUNE 2018 - 20:00

Description

Over the last 12 months, South African Airways has received R20-billion in government bailouts. Eskom has R62-billion in principal debt payments due in the next five years and, Transnet is rumoured to be ground zero for state capture and corruption. It is a major concern that if cash-strapped SOEs were to default on their loans, the impact on the economy, businesses and government finances would be detrimental. The Banking Association South Africa says its members are willing to step in to provide expertise and resources. To discuss this further, Managing Director Cas Coovadia joins Vuyo Mvoko on As It Happens.

Watch: Gordhan Turns to Bank Chiefs to Rescue SOEs

Source: BDTV

Time aired: 26 JUNE 2018 - 09:18

DescriptionPublic Enterprises Minister Pravin Gordhan and the Treasury have met the heads of major banks and asset managers to appeal for help to nurse the country’s embattled state-owned enterprises (SOEs) back to health.

But, with some of the SOEs in dire straits, why would the banks want to take on the risk?

Banking Association of SA MD Cas Coovadia spoke to Business Day TV about how banks have responded to the cry for help.